Bitcoin’s Rally to New All-Time High (ATH) Above $106K Liquidates This Massive Whale

BTC is on a roll again, reaching a new high above $106K.  Bitcoin took just over ten days to re-establish its market presence, surging to a new all-time high of well over $106,000. It moved up, down, and back up in the last 12 hours or so, resulting in over $300 million in liquidations, but one order stands out as the greatest.

CoinGlass data shows that the leading cryptocurrency’s surge has wiped out roughly 100,000 dealers in the last 24 hours. However, the largest single liquidated position occurred on Binance, involving the BTC/USDT trading pair.

The total value was $19.86 million, which the whale lost throughout the wild ride. Although it appears to be from a short position, BTC also retraced by roughly two grand soon after the most recent top, raising questions about whether it was a trader expecting additional gains.

After all, short positions accounted for little more than 51% of all liquidations on Binance. Nonetheless, these developments demonstrate that traders should exercise caution when starting over-leveraged bets in the current volatile market.

Aside from BTC, which has extended its dominance over the market, many larger-cap alts have posted some gains as well over the past 24 hours. These include ETH, SOL, DOGE, ADA, AVAX, and TON are up by around 2-3% each. SUI have jumped the most from the larger caps, having gained 9% and trading close to $4.8.

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